Telecom sales is based in commodity – customers are paying to get phone, cable or Internet access at the lowest rate possible. In this environment, offering a better price alone introduces sales potential on a first call, dangerously leading telecom sales teams to settle for “cold calls.”
To outpace competitors, your sales team must be more strategic toward achieving ROI goals and capturing telecom market revenue. While a telecom sales call will always be somewhat cold, strategic planning enables your team to target the right prospects so that they aren’t just dialing to fill an activity quota.
Improve close rates and drive sales team revenue with these tips:
Telecom Sales Tip #1: Invest In And Be Efficient With Your Outreach
Would you rather have a prospect sales database that’s filled with 200,000 contacts with no idea of their wants or needs, or a database of 20,000 highly targeted prospects who your sellers know and understand?
Invest in a strong prospect list up front to ensure each call you make is worthwhile. Gathering information on the front end helps your team understand what business owners want and need from their telecom provider, before the phone call. If you understand who buys from you, why they buy from you, what pains they have and what they ultimately buy, you can arm your team with high-converting lists.
Once you understand your prospects’ personas, take the time to scrub and append your database, rather than starting from scratch. Once you do start making discovery calls, learn more about how they make purchasing decisions. Reevaluate your persona and list alignment every six months for continual improvement across all outbound sales strategies.
Telecom Sales Tip #2: Segment Your Targets By Propensity To Spend
The propensity to spend comes down to two factors: margins and need.
For example, if you call up a cafe that has a need to provide Wi-Fi for customers but doesn’t function under particularly high margins, they aren’t super motivated to spend even though their need is high. However, if you call a high-end doctor’s office that offers premium cable in waiting rooms or sports bars with dozens of TVs, they may be more apt to spend because they have a higher margin to work with.
Segment your prospect database with, at a minimum, the following categories:
- Market type
- Revenue size
With segmentation, guide your sales reps to the premium offices that may be an easier sale due to a higher propensity to spend. But, you’ll also know when to reach out to the cafe owner, where you may have a cost-related promotion to offer. Segmentation is there to help your telecom sales team strategize to close more deals.
Telecom Sales Tip #3: Further Develop Strategies With A Sales Expert
Many telecom sales teams simply lack the time and resources required to step back and truly strategize, particularly when approaching the SMB space. That’s why many telecoms enlist the help of an outsourced sales partner that is able to come in and flesh out areas of your sales approach, such as:
- Prospect Targeting: Research who your ideal buyers are and how to segment them
- Talk Tracks: Develop a compelling, value-based script for your “cold calls”
- Pain Identification: Discover customer pains by doing field research
- Solution-Based Offers: Identify what promotions or services address customer pains
It’s important to note that the outsourced sales partner should offer you customized solutions that match your industry and overall business goals – there is no one-size-fits-all solution.
Telecom Sales Tip #4: Understand Your Close Rates And ROI Potential
There is a very templated way to project what your close rates and expected ROI potential should be. This Excel template takes into account how many prospects are in your database, how many sales reps you have, how many calls they make a day and what percentage of deals they close. Based on all of this information, you may make a projection of ROI potential.
What if you aren’t meeting those projections?
Sales is a series of adjustments in methodology or approach. When a business offering or service changes, this impacts your close rates and you have to make adjustments to your strategy to improve close rates. If a promotion ends, you may want to stop calling those businesses you’ve identified as having smaller margins. If a promotion starts up, that’s the time to call them.
DOWNLOAD THE FREE TEMPLATE
Ready to discover how a telecom provider doubled monthly revenue by implementing the above sales tips?